DGAP-News: VTG Aktiengesellschaft / Key word(s): Acquisition
VTG Aktiengesellschaft: VTG doubles its railcar fleet in North America
01.12.2011 / 09:30
---------------------------------------------------------------------
VTG doubles its railcar fleet in North America
- Takeover of the business and over 2,000 railcars of SC Rail Leasing
America
- Customer base in North America doubled
Hamburg, December 1, 2011. On December 1, 2011, VTG Rail, Inc.,
Collinsville, Illinois, the wholly owned subsidiary of Hamburg, Germany
based railcar leasing and rail logistics company VTG Aktiengesellschaft
(SIC: VTG999), has taken over the business activities of SC Rail Leasing
America Inc., Collinsville, Illinois (SCRL), a subsidiary of Sumitomo
Corporation of America. Financial terms were not disclosed.
'Doubling our railcar fleet in North America enables us to reinforce our
position in the world's largest rail freight market', says Dr. Heiko
Fischer, Chairman of the Executive Board of VTG AG, adding: 'At the same
time, we will be able to enter new customer and market segments and further
support our growth'.
The VTG-subsidiary, formerly known as Texas Railcar Leasing, will operate
as VTG Rail in the North American market. VTG Rail took over more than
2,000 freight cars primarily employed in the transport of agricultural
products, coal, salt, and other minerals. The operating business of SCRL,
including its existing customer relationships, will be incorporated into
the new company, as will SCRL's employees. The addition of the SCRL team,
with their extensive market experience and successful track record, will
enable VTG to substantially expand its organizational structure, thus
enhancing its market presence.
Chris Schmalbruch, President of VTG Rail, is excited about the opportunity
to establish the expanded company in the North American market and adds:
'The numerous new customer relationships will enable us to expand our
proven marketing strategies with a skilled and committed team'.
VTG entered the North American railcar leasing business in 2008 with its
acquisition of Texas Railcar Leasing Company and its fleet of some 1,000
railcars. This fleet was doubled over the course of the following two years
through additional acquisitions. For VTG, the purchase of SCRL is another
step in the implementation of its strategy of controlled growth in new
geographic markets. This supplements the acquisition of 300 mineral oil
tank cars of the Italian company Sogerent and 870 railcars of the Railcraft
Group in Russia during the first half of 2011.
About VTG:
VTG Aktiengesellschaft is one of Europe's leading railcar leasing and rail
logistics companies. The company has the largest private railcar fleet in
Europe. Globally, the fleet consists of some 51,200 railcars, with a focus
on tank cars and state-of-the-art high capacity freight cars. In addition
to railcar leasing, the Group offers global tank container transportation
and comprehensive multi-modal logistics services, primarily in the rail
transportation space.
With the combination of its three interlinked divisions Railcar Leasing,
Rail Logistics and Tank Container Logistics, VTG offers its customers a
high-performance platform for international freight transportation. The
Group has many years of experience and specific expertise, particularly in
the transport of liquids and sensitive goods. Its customers include
numerous well-known companies from almost every industrial sector,
including the chemical, petroleum, automotive, paper and agricultural
industries.
In 2010, VTG generated revenue of EUR 629.4 million and operating profit
(EBITDA) of EUR 154.4 million. Via its subsidiaries and affiliates the
company, which has its head office in Hamburg, is mainly present in Europe,
Asia and North America. As of December 31, 2010, VTG had 999 employees
worldwide in consolidated companies. VTG AG is listed on the official Prime
Standard market of the Frankfurt Stock Exchange and also on the SDAX (SIC:
VTG999).
Media contact:
Monika Gabler
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
Email: monika.gabler@vtg.com
Investor Relations contact:
Felix Zander
Head of Investor Relations
Telephone: +49 (0) 40 23 54-1351
Fax: +49 (0) 40 23 54-1350
Email: felix.zander@vtg.com
Further information at www.vtg.com
End of Corporate News
---------------------------------------------------------------------
01.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: VTG Aktiengesellschaft
Nagelsweg 34
20097 Hamburg
Germany
Phone: 040 2354 0
Fax: 040 2354 1199
E-mail: info@vtg.de
Internet: www.vtg.de
ISIN: DE000VTG9999
WKN: VTG999
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
148277 01.12.2011
DGAP-News: VTG Aktiengesellschaft: VTG doubles its railcar fleet in North America
| Source: EQS Group AG